US History Chapter 14 Section 1 – 3

Price support
{Law that keeps prices above a set level} the maintenance of a price at a certain level through govenment intervention.

Credit
{Short-term loans to buy goods with promises to pay later} an arrangement in which consumers agreed to buy now and pay later for purchases.

Dow Jones Industrial Average
{Index of stock prices of select companies} most widely used barometer of the stock markets health.

Speculation
{Investments in high-risk ventures} an involvement in risky business transaction in an effort to make a quick or larger profit.

Buying on margin
paying a small percentage of a stock’s price as a down payment and borrowing the rest promising to pay it later.

Black Tuesday
{October 29,1929, the day the stock market crashed} The bottow fell out of the market and the nations confidence

Great Depression
Period of bad economic times from 1929 to 1940 in which the economy plummeted and unemployment sky rocketed.

Hawley-Smoot Tariff Act
{Law that raised taxes on imports and worsened the
Depression} established the highest protective tariff in United States history

Alfred E. Smith
Democrat, was a career politician who served four terms as governor of New York. Franklin Roosevelt
nominated him, calling him the “Happy Warrior.”

What industrial weakness signaled a declining economy in the 1920’s?
housing started to fall, so do jobs in many related industries, such as furniture & lumbering

What did the experience of farmers and consumers at this time suggest about the health of the economy?
the experience suggest tht the economy was in poor health due to declining income.

How did speculation and margin buying cause stock prices to rise?
people to buy stocks just on the chance of getting rich quick. Others began buying stocks on margin, that is they paid a small amount of a stock price s a down payment and borrowed the rest.

What happened to ordinary workers during the Great Depression?
many workers lost their jobs and those who kept their jobs faced pay cuts and shorter hours.

How did the Great Depression affect the world economy?
world trade had fallen more than 40%. Tariffs imposed by the US made unemployment worse in industries that could no longer export goods to Europe.

Shantytown
a neighborhood in which people live
in makeshift shacks

Soup kitchen
a place where free or low cost food is served to
the needy.

Bread line
a line of people waiting for free food

Dust Bowl
the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s

Direct relief
the giving of money or food by the government directly to needy people

How did the Great Depression affect minorities?
Higher unemployment rate, increasing racial violence, deported, expelled from the country.

Why did so many men leave their homes during the Depression?
Many men had difficulty coping with unemployment because they were accustomed to working and supporting their families.

How did the Great Depression affect women and children?
Children had poor diets and lack of money for health care which led to health problems; dramatic increase of rickets. school years were shorten (300,000 students out of school) & some schools (2,600) were closed.

Herbert Hoover
{31st President} from Iowa, his life was a rags to riches story. He made a fortune as a mining engineer and consultant in China, Australia, Europe & Africa. After World War 1, he earned a reputation for efficiencey and humanitarian ideals

Boulder Dam
a dam on the Colorado River—now called Hoover Dam—that was built during the Great Depression as part of a public-works program intended to stimulate business and provide jobs.

Federal Home Loan Bank Act
a law, enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure.

Reconstruction Fianance Corporation
(RFC) an agency established in 1932 to provide emergency financing to banks, life-insurance companies, railroads, and other large businesses.

Bonus Army
a group of World War I veterans and their families who marched on Washington, D.C., in 1932 to demand the immediate payment of a bonus they had been promised for
military service

What were some of Hoover’s key convictions about government?
Hoover’s stance on the economy was based on voluntarism . From before his entry to the Presidency, he was the way a proponent of the concept that public private cooperation was the way to achieve high long term growth.

Why do you think people blamed Hoover for the nation’s difficulties?
???? Hoover believed in “rugged individualism”—the idea that people should succeed through their own efforts. He believed people should take care of themselves and each other, and that the government should encourage private groups to help the needy.

What were some of the projects proposed by Hoover, and how effective were they?

What did the Bonus Army want?

price support the maintenance of a price at a certain level through government intervention. credit an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges. WE WILL WRITE A CUSTOM ESSAY …

Which of the following increased in the 1920s? Farmers’ debt Which was not a cause of the Great Depression? a growing number of homeless people WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY …

Price Support The government would buy surplus crops like corn, wheat, cotton and tobacco at guaranteed prices and sell them on the world market. Credit an arrangement in which consumers agreed to buy now and pay later for purchases in …

Credit Short-term loans to buy goods with promises to pay later Speculation Investments in high-risk ventures WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE Write my sample buying on margin Buying stock …

Black Tuesday This is the name given to the day in October of 1929 when the stock market crashed. Buying On Margin This is the term to the practice of buying stocks or securities with cash borrowed from a stock …

what increased economically in the 1920’s? farmers’ debts what were the causes of the great depression tariffs on foreign goods, the availability of easy credit, a crisis in the farm sector, uneven distribution of income WE WILL WRITE A CUSTOM …

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